Campbell Soup, Snyder’s-Lance shares rise on deal report
NEW YORK (AP) — Shares of Campbell Soup and Snyder’s-Lance have risen after a report that the soup company is in advanced talks to buy the pretzel maker.
CNBC, citing sources familiar with the situation, said a deal could be announced next week. Both companies said Friday they don’t comment on rumors.
Camden, New Jersey-based Campbell has reported falling sales as more people avoid processed foods. Besides its canned soups, it makes Goldfish crackers, V8 juices and Prego pasta sauces. It bought organic broth maker Pacific Foods this year to shift its product lineup toward foods seen as healthier.
Snyder’s-Lance’s brands include Pop-Secret popcorn, Stella D’oro cookies and Snyder’s of Hanover pretzels.
Campbell Soup Co. shares rose 2 percent Friday. Shares of Snyder’s-Lance Inc., which is based in Charlotte, North Carolina, rose 5.3 percent.